Hi everyone. Paul Mahoney, Managing Director at Nova financial group, and the author of the bestselling book The Property Pension Plan. The question I’m getting a lot at the moment, is now a good time to invest in property, especially over the past week as we’ve had the coronavirus pandemic, and the uncertainty that creates creep in. Now, I don’t think anyone really knows the impact that this is going to have, but I think one thing that we can all agree on is that it is going to be relatively short term. And there’s always reasons not to invest in the short term. For example, we had Brexit over the past few years, which is now getting resolved. Hopefully this pandemic will be resolved within a matter of weeks, but what definitely stands is a few anecdotes that I often wrestle off with regards to property investment. One of them is that the best time to invest in property was 20 years ago and the second best time is now.
Another is that property investment is not about time in the market, it’s about time in the market. So what I mean by that is property shouldn’t be about whether you’re buying at the bottom of the trough or the top of the peak. It’s about buying good properties in good locations for a longterm investment. And with that in mind, there are some great reasons to invest in property at the moment. We’ve just had a major interest rate cut. We’ve also had major government stimulus announced and more coming on a daily basis. So if you’re buying desirable properties in the right locations, you can still expect to do very well over the mid to long term. Thanks for listening.